Cityon Systems India Ltd Management Discussions

Economic Overview

During the financial year 2023-24 the economy showed a positive growth at the rate of 8.2% and steady increase in Sensex and Nifty of the Stock Market. It was a favourable year for the businesses operating in the Indian Market.

2023-2024 was a challenging period for our company, as we faced numerous headwinds that impacted our financial performance. The results of our strenuous efforts to curb the loss, we recorded a drop in losses compared to the previous year amounting to 762,823.16.

The company consistently conducts thorough reviews of its business strategy, aiming to forecast and attain the most fruitful results for the future. It proactively pursues diversification into new avenues whenever the need arises, with a strong expectation of future profitability.

The Company is equipped with Well-designed controls streamline processes and operations. The Company is searching for new avenues. Your company continues to focus on the diversification its business activities. Although business opportunities are available, additional resources continues to be constraint for opting to opportunities.

The company has good recognition among its shareholders spread throughout country. The company has evolved new vision and focus to better serve the long term success of the Company. The company processing strategies to diversify its business activities in coming years. Your Company believes in long term continued success rather than momentary windfall.

The Capital market industry in which your Company is operating is subject to extensive regulation. The Company evaluates the risk posed to the your Company including but not limited to technological obsolescence, Market risk, Regulatory risk, Legal violations and the associated risk and makes investment accordingly

The adequacy of internal controls is crucial for safeguarding assets, preventing fraud, and achieving business objectives. An adequate internal control system includes clear policies, segregation of duties, regular audits, and ongoing risk assessment.

The Company has satisfactory internal control system to ensure accuracy of accounting records, compliance with all laws & regulations and compliance with all rules, procedures & guidelines prescribed by the management.

The Board of Directors hereby affirms that the company has implemented and maintains an effective risk management system. Our risk management framework adheres to established industry standards and regulatory requirements. We have robust processes in place for identifying, assessing, mitigating, and monitoring risks across all areas of our operations. Regular reviews and audits are conducted to ensure the ongoing effectiveness of our risk management practices. The companys risk appetite and tolerance levels are clearly defined and aligned with our strategic objectives. We are committed to fostering a culture of risk awareness throughout the organization and continuously improving our risk management capabilities to safeguard the interests of our stakeholders.

Identified risks are thoroughly evaluated based on their potential impact and likelihood. We use a standardized risk matrix to prioritize risks and allocate resources accordingly.

The statements made in this report describe the company’s objectives and projections that may be forward looking statement within the meaning of applicable laws and regulations. The actual result might differ materially from those expressed or implied depending on the economic conditions, government policies and other incidental factors which are beyond the control of the company. The company is not under any obligation to publicly amend, modify or revise any forward looking statements on the basis of any subsequent developments, information or events.

The company acknowledges that its achievements are intricately linked to the effectiveness of its human resources. To drive growth, the company has made substantial investments in both people and infrastructure. By fostering a supportive work environment, the company ensures equal opportunities for growth and challenges for all employees. It places great emphasis on cultivating business leaders by attracting top talent from the industry, providing them with opportunities, empowering them through delegated responsibilities, offering training, and nurturing their professional development.